Invest in Conversation with Aging Workforce – securing their contribution is key

Retiring baby boomers are exiting the workforce at a faster clip than the younger generations can replace them. While some sectors of health care and manufacturing already are struggling to fill jobs, demographers say the brunt of the labor shortage will strike businesses in Minnesota and the nation just a few years from now, between 2020 and 2025.

A new lexicon is emerging among hiring managers, whose focus has traditionally been on recruiting and retaining younger employees to build the future workplace. Some now are talking about extending the work “life cycle” to help older workers stay on the job longer and to convince experienced retirees to return to work.